Ratification of the free trade agreement will quickly increase trade between Ukraine and Turkey by $2.5B per year.

Ambassador of Ukraine to Turkey, Vasyl Bodnar, noted: “Turkey traditionally plays an important role in Ukraine’s foreign trade. In 2023, the total trade volume was approximately $7.5B. After the start of free trade, Ukraine and Turkey will quickly reach the goal of $10B in bilateral trade, announced the presidents of Ukraine and Turkey”.

According to Bodnar, the ratification of the free trade agreement will be a historic turning point in Ukraine’s relations with Turkey. The ambassador called Turkish investors a model for other foreign investors, in particular after the beginning of Russia’s large-scale invasion of Ukraine.

“Despite the war, Turkish citizens incorporated 354 new companies in Ukraine. Turkish business accounts for 13.1% of the total number of foreign companies,” the Ukrainian ambassador noted.